AUDUSD H4 | Bullish bounce off 38.2% fibo?

TitleAUDUSD H4 | Bullish bounce off 38.2% fibo?TypeBullish BouncePreference:Price is falling to our pivot point at 0.6588, which is an overlap support, aligning with the 38.2% fibo retracement. If price bounces off our pivot point, price could rise towards the 1st resistance at 0.6629, which is a swing high resistance level.Alternative scenario:If price breaks below the pivot point, then price could fall to the 1st support at 0.6560, which is below the 50% fibo retracement.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.